Ryanair rakes in higher profits

New figures show

Ryanair, Europe’s No. 1 airline, today  reported a 55 per cent rise in Q1 profit to €397m.

This result is distorted by the timing of Easter in Q1 with no holiday period in the prior year comparative.  Traffic grew 12 per cent to 35m as Ryanair’s lower fares and “Always Getting Better” (AGB) programme delivered a record 96% load factor.

Ryanair’s CEO Michael O’Leary said: “We are pleased to report this 55% increase in PAT to €397m but caution that the outcome is distorted by the absence of Easter in the prior year Q1.

“While Q1 ave. fares rose by one per cent to just over €40, this was due to a strong April (boosted by Easter) offset by adverse sterling, lower bag revenue as more customers switch to our 2 free carry-on bag policy, and yield stimulation following a series of security events in Manchester and London.”

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